Galaxy Gaming Q2 revenue up 33% to $7.5M, net income $357K, raises 2023 guidance

Galaxy Gaming, Inc.

2023-Q2 EPS reported $0.02 revenue$14,947,870

Q2 revenue $7.53M (+33% YoY); net income $357K vs loss of $1.12M.
Adjusted EBITDA $3.22M (+36% YoY); net leverage 3.4x well under 6.0x covenant.
Raised FY 2023 guidance: revenue to $29-30M (from $27.5-28.5M), EBITDA to $13.0-13.25M.
Announced ten-year agreement with Evolution; exclusive US/Canada/UK/online EZ Baccarat distribution.
First GOS platform installations in US and UK; cash $18.7M, long-term debt $58.6M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Galaxy Gaming, Inc. reported the quarter ended June 30, 2023 results: revenue $7,525K, net income $357K. Guidance raised.

Period: the quarter ended June 30, 2023
Revenue: $7,525K
Net income: $357K
Guidance: raised
Result: reported results

Exact text from the filing

iGaming content, announced today its financial results for the quarter and six months ended June 30, 2023. Financial Highlights Q2 2023 vs. Q2 2022 • Revenue increased 33% to $7,525K • Adjusted EBITDA increased 36% to $3,218K • Net income of $357K vs. net loss of $(1,116)K 1H 2023 vs. 1H 2022 • Revenue increased 29% to $14,948K • Adjusted EBITDA increased

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Source: SEC EDGAR

accession 0000950170-23-042566

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